Industry Analysis & Industry Trends
The performance of the Employment Placement Agencies industry is closely linked to the hiring intentions of public and private-sector firms and, consequently, to prevailing economic conditions. Consequently, industry revenue contracted by almost 50% in 2008-09 as a result of the global financial crisis. As the economy recovered, industry revenue went from strength to strength at the beginning of the five-year period through 2016-17. However, growth was curtailed due to falling business confidence, and as a result revenue is expected to have contracted from 2015-16.
In the current year, revenue is expected to fall by 3.6% to £11.6 billion. This contraction is largely expected to be a result of the uncertainty caused by the UK's decision to leave the European Union... purchase to read more
Industry Report - Starting a New Business Chapter
The main barrier to entering the Employment Placement Agencies industry is developing a strong enough reputation to gain a foothold in the market. This includes reputation among hirers and, to a lesser extent, among applicants. Largely revolving around consistently supplying the right applicants to employers and directing applicants to the right jobs, a strong reputation is crucial in generating the word-of-mouth recommendations that are all-important when marketing business-to-business services.
Once a firm has developed key client relationships, these are difficult to break if the firm continues to perform its role well. It .. purchase to read more